Construction has begun on the last 14 townhomes at a North Lauderdale development called Mediterania, which will have 58 townhomes when the final phase is done.
Prices for the two- and three-bedroom units range from $229,900 to $239,900, well below prices for most new homes and condominium units in South Florida. Amenities inside and outside the townhomes are limited.
“If someone is priced out of the single-family home market and they still want to buy something new, they’re going to have to start to look at townhomes,” Adam Canter, managing member of Capstone, told the Sun-Sentinel. “This is a good deal.”
Capstone bought the one-acre Mediterania site for $280,000 last year. The property’s North Lauderdale location is south of McNab Road on Southwest 17 Court.
With offices in North Miami and Margate, Capstone has a similar townhome development under way in Delray Beach, called Emerald Place. Capstone expects to start marketing 31 townhomes in summer at prices in the low $300,000s. [Sun-Sentinel] — Mike Seemuth